Asia

Piyush Goyal warns local businesses of ‘predatory price’ threats from Amazon’s involvement in the Indian economy.
21Aug By Online DeskNo Comments
Asia, World

Piyush Goyal warns local businesses of ‘predatory price’ threats from Amazon’s involvement in the Indian economy.

Union commerce minister Piyush Goyal on Wednesday launched a broadside on multinational e-commerce companies—naming Amazon—saying they indulged in predatory pricing to beat down domestic ‘mom and pop’ stores. He was speaking at the launch of a report, titled ‘Assessing the Net Impact of e-Commerce on Employment and Consumer Welfare in India’, published by the Pahle India Foundation, a Delhi-based policy research institute founded by former Niti Aayog vice-chairman Rajiv Kumar. Goyal said e-commerce platforms should not be allowed to disrupt the 100 million of brick-and-mortars stores and small retailers in India.  "When Amazon says ‘we are going to invest a billion dollars in India’ and we all celebrate, we forget the underlying story that these billion dollars are not comin...
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Why Recognizing Care Workers Is Critical for the US Economy.
21Aug By Online DeskNo Comments
Asia, World

Why Recognizing Care Workers Is Critical for the US Economy.

No matter who you are, you’ve received help from a nurse, teacher, social worker, caregiver, parent, family member or another paid or unpaid care worker at some point in your life. That’s why it might not come as a surprise that the U.S. care economy is estimated to be a $648 billion market. Despite this, the U.S. chronically devalues this work and is doing so to the detriment of its economy and future. In a recent white paper, the World Economic Forum (WEF) outlines the care economy’s critical role in the health of a society and calls for immediate prioritization and strategic investment in the sector. The care economy covers a wide breadth of necessary social functions, both paid and unpaid, that go on to directly impact every industry. The WEF defines the scope of the...
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20Aug By Online DeskNo Comments
Asia, China, Market

China July 2024 Economy: Consumption and Trade Surge Amid Sluggish Industrial Growth

China’s National Bureau of Statistics (NBS) has released the economic data for July 2024, providing a detailed view of the country’s industrial, retail, and investment performance. The figures reveal a mixed economic landscape, with retail sales exceeding expectations, yet industrial production falling short of forecasts. The continued expansion of consumer spending indicates growing domestic demand, despite persistent challenges in the real estate sector and fixed asset investments. As the Chinese government focuses on boosting domestic demand, the challenge of maintaining economic momentum amidst structural adjustments and external uncertainties remains a significant concern moving forward. Industrial growth slows but maintains a steady pace In July, China’s industrial sector e...
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Decoding the Bangladesh Crisis via the Lens of Kautilya
20Aug By Online DeskNo Comments
Asia, World

Decoding the Bangladesh Crisis via the Lens of Kautilya

The recent ousting of the longest-serving Prime Minister of Bangladesh, Sheikh Hasina, by a mass movement which started as a student protest has caught the world’s attention for both the suddenness of the event and the vandalism on display. The resignation and escape of Hasina may have been swift but the angst and disgruntlement portrayed by the mass protesters point to a deeper rot in the political establishment of which the reinstated job quota is perhaps, only a tipping point. For Kautilya, Hasina has broken the social contract and has failed to achieve yogakshema (security and prosperity) for the citizens of Bangladesh. Power is not success Hailed by the World Bank as the ‘country on a mission’ Bangladesh has seen rapid economic growth in the past two decades. The gros...
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Plummeting iron ore prices on the basis of China’s property crisis might wipe out $3 billion from the government budget.
19Aug By Online DeskNo Comments
Asia, China, World

Plummeting iron ore prices on the basis of China’s property crisis might wipe out $3 billion from the government budget.

Plummeting iron ore prices could cost the federal government $3 billion in revenue, which is likely to push the budget further into deficit this financial year. China's property market is in a precarious state, which has seen demand for iron ore — the key component for making steel – drop significantly. Australia has done exceptionally well riding the boom in the Chinese economy. But the political and economic uncertainty surrounding the world's two biggest economies — the US and China — points to tougher times ahead. But that decline has accelerated in recent weeks, with prices now sitting around $82 per tonne, which is below the price the Treasury had anticipated at this point. It had forecast the iron ore price gradually declining to settle at $60 per tonne by the first qua...
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Sri Lanka strengthens ties with India: Wickremesinghe
18Aug By Online DeskNo Comments
Asia

Sri Lanka strengthens ties with India: Wickremesinghe

Colombo, Aug 18 (PTI) Sri Lankan President Ranil Wickremesinghe has emphasised the importance of strengthening economic cooperation and regional integration with Japan to India, with a special focus on deepening ties with New Delhi, as his country seeks to emerge from bankruptcy. Wickremesinghe's comments came as he was virtually addressing the Head of State Session of the 3rd Voice of Global South Summit, held under the theme "An Empowered Global South for a Sustainable Future." From the north-central town of Anuradhapura yesterday. The conference, chaired by Indian Prime Minister Narendra Modi, brought togetherheads of state from various countries. Reflecting on Indo-Sri Lankan relations, the President emphasised the "vision"statement shared between the two nations, which celeb...
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15Aug By Online DeskNo Comments
Asia, China, Market

China’s Economy at a Glance – August 2024

Overview There was nothing in China’s latest data release to fundamentally change our views around its economy – authorities continue to prioritise the supply side of the economy, which, in the face of subdued domestic demand, is expanding export volumes and leading to growing trade tensions with other major economies. Our forecasts are unchanged – we see growth at 4.7% this year (below the full year target) and easing further to 4.6% in 2025 and 4.4% in 2026. Growth in industrial production has trended lower in recent months, down to 5.1% yoy in July (compared with 5.3% yoy in June and 6.7% yoy in April). While conditions in construction related sectors remains weak, output in the electronics sector remains comparatively strong. There was a noticeable slowing in real investment...
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13Aug By Online DeskNo Comments
Asia, Market, World

Asset Management: Monthly Macro Insights – August 2024

Weakening business confidence indices continue to cast doubts on the global economy’s resilience. Although core inflation remains above central banks’ targets, the cooling of labour markets has not gone unnoticed, prompting a major shift in policy rates projections. China’s economy disappoints Chinese GDP grew a mere 0.7 per cent q/q in Q2-2024, the weakest since early 2022, showing activity is struggling to maintain a tepid recovery. What’s more, weak July PMIs signalled a poor start to Q3 — a worrying development given the undershoot in the previous quarter. Manufacturing confidence edged down to 49.4 and remained in contraction territory for a third month straight. The non-manufacturing gauge inchedlower to 50.2, marginally above the 50-threshold, thanks solely to the constructio...
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How Bangladesh’s turmoil may affect its economic growth: Explained
8Aug By Online DeskNo Comments
Asia, World

How Bangladesh’s turmoil may affect its economic growth: Explained

As Bangladesh faces regime change, an expert warned that one of the tasks before the new government will be "to stop the free fall of the economy." It is now feared that the damage from mass violence, unemployment, persisting inflation, and "slowed real GDP [Gross Domestic Product] growth" may impact Bangladesh's economy. Saad Hammadi, a fellow at the Balsillie School of International Affairs, told Al Jazeera on Monday, “The job of the interim and subsequent government will be extremely challenging to stop the free fall of the economy and recover the state at a time when even the global economic and political orders are extremely chaotic.”Thousands of protesters stormed and looted prime minister's residence. Several police stations, buildings and public assets were vandalised and set o...
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Bangladesh’s economy is recovering from the epidemic, but it still faces chronically high inflation.
7Aug By Online DeskNo Comments
Asia, World

Bangladesh’s economy is recovering from the epidemic, but it still faces chronically high inflation.

Bangladesh’s economy, which has been in recovery mode since the Covid-19 pandemic’s outbreak, has faced persistently high inflation that hit close to 10% in recent months. The resignation of Sheikh Hasina as the Prime Minister of Bangladesh and the subsequent takeover by the military could lead to further troubles for the economy that is also facing problems of liquidity and forex reserves. Even before the current political crisis, international agencies have called for structural reforms to help it take forward growth and maintain economic stability. However, the country has been one of the fastest growing economies in the world with high GDP per capita. As per its Budget, which was passed on June 30, the country is targeting an inflation rate of 6% and GDP growth rate of 6.75%. Th...
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